Toronto - CERRADO GOLD (TSXV: CERT) (OTCQX: CRDOF) ('Cerrado' or the 'Company') is pleased to announce latest metallurgical test work results that outlines the processes and results for the metallurgical test work for process route definition and determination of process parameters for the Serra Alta deposit at its Monte Do Carmo project in Tocantins State Brasil.

Results support an expected gold recovery rate of 98.5% as used in the PEA. The process reviewed the expected global gold recovery using gravity concentration followed by floatation and leaching of the gravity concentrate tailings.

Mark Brennan, CEO of Cerrado Gold commented, 'We are extremely pleased to release further details of the metallurgical test results that support the robust results presented in the recent PEA for the Serra Alta deposit which showed an NPV5% of $617 MM at a gold price of $1,600/oz. The results further demonstrate the tremendous economic advantage offered by the mineral characteristics at the Serra Alta deposit. We will continue to explore Serra Alta and regional analogue deposits to determine the full potential of the Monte do Carmo gold district.'

The latest metallurgical test work results were part of Cerrado's recently released NI 43-101 Preliminary Economic Assessment ('PEA') based upon the recently expanded 43-101 resources defined at the Serra Alta deposit at its Monte do Carmo gold project in Tocantins State, Brazil. The test work was completed by Testwork Process Development Ltda and was incorporated into the recent PEA completed by GE21 Consultoria Mineral Ltda ('GE21'). The full report is expected on our website www.cerradogold.com imminently.

Test procedures incorporated four samples totaling 300 kilograms (kg), which were collected from drill holes representing the two main areas (East Zone, Pit South+ North Zone) plus a cut-off/low grade sample of all zones and a blend of the three previously mentioned. ICP assays of samples did not identify any metals that could potentially be cyanicides indicating a low cyanide consumption and lower residence time of the leach operations.

Technical Disclosure

The reader is advised that the PEA summarized in this press release is intended to provide only an initial, high-level review of the project potential and design options. The PEA mine plan and economic model include numerous assumptions and the use of Inferred Mineral Resources. Inferred Mineral Resources are considered to be too speculative to be used in an economic analysis except as allowed for by Canadian Securities Administrators' National Instrument 43-101 in PEA studies. There is no guarantee the project economics described herein will be achieved.

Cerrado Gold Inc. will publish no later than September 17th a Technical Report on SEDAR prepared in accordance with NI 43-101 that documents the PEA study and supports the current disclosure.

About GE21

GE21 is a specialized and independent mineral consulting firm based on a multi-disciplinary technical team, which offers services covering most project development stages in the mining sector.

The senior staff and Board of Directors have extensive technical and operational experience, based on collaboration with relevant companies in the fields of exploration and mineral consulting in Brazil going back to the 1980's.

GE21's services cover the entire mining cycle, from business strategies and target generation and investments to mine closure. GE21 routinely provides services for mineral exploration, project development, geological valuations, and resource and reserve estimation and certification according to international standards, including JORC and NI 43- 101. In addition, GE21 also serves the mining industry by working with operators in connection with mine planning and mine optimization, technical and economic studies as well as technical audits and the application of best market practices advocated by various international codes.

Contact:

Mark Brennan

Tel: +1-647-796-0023

Email: mbrennan@cerradogold.com

About Cerrado Gold

Cerrado Gold is a public gold producer and exploration company with gold production derived from its 100% owned Minera Don Nicolas mine in Santa Cruz province, Argentina. It also owns 100% of the assets of Minera Mariana in Santa Cruz province, Argentina. The company is also undertaking exploration at its 100% owned Monte Do Carmo project located in Tocantins, Brazil.

Disclaimer

This press release contains statements that constitute 'forward-looking information' (collectively, 'forward-looking statements') within the meaning of the applicable Canadian securities legislation, all statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements contained in this press release include, without limitation, statements regarding the business and operations of Cerrado Gold. In making the forward- looking statements contained in this press release, Cerrado Gold has made certain assumptions, including, but not limited to ability of Cerrado to expand its drilling program at its Minera Don Nicolas Project and increase its resources. Although Cerrado Gold believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political, and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, Cerrado Gold disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

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